SOURCE: Global Turnarounds Inc.

May 04, 2005 14:12 ET

Senior V.P. Appointed to Lead Toronto Acquisitions and Turnarounds

TORONTO -- (MARKET WIRE) -- May 4, 2005 -- Global Turnarounds Inc. is pleased to announce the appointment of Ira Thomas Traves, LL.B as Senior Vice President: Acquisitions and Turnarounds.

Mr. Traves most recently co-founded and served as President of MSE Micro Solutions Canada Ltd., involved in the manufacturing and distribution of compatible laser toner and inkjet cartridges. Prior to joining MSE Canada in 2002, Mr. Traves served as co-founder and Executive Vice President (Business Development) for mySMART.com Inc. -- an advanced US technical designer, manufacturer, and enabler of patented smart credit card service devices and applications, headquartered in Los Angeles, California.

Mr. Traves served from 1984 to 1998 as Executive Vice President and General Manager (Canada) for Packard Bell NEC Electronics Inc., a global manufacturer of personal computers and accessories.

Mr. Traves is a certified Ontario lawyer, called in 1977, having graduated from the University of Toronto, Faculty of Law in 1975.

Global Turnarounds Inc. plans to utilize Mr. Traves' expansive business, legal, financial and negotiation skills to acquire underperforming and distressed manufacturing and distribution companies, in partnership with their various financing sources. Global Turnarounds will also continue to perform turnarounds for owners on a success oriented basis.

"We believe that through the acquisition of distressed companies with our financing partners, and transforming these companies not only from red ink to black ink, but to become top performers in their industries, we are playing a vital role in the natural cycle of business," says Global Turnarounds CEO Kobus van der Zel. Global Turnarounds Inc. has developed a unique turnaround formula from a methodology that is understood and practiced by more than 800 certified practitioners around the world (www.globalturnarounds.com).

Contact details:
Ira Thomas Traves, LL.B
Phone: (905) 737-1144
Cell: (416) 809-1684
Email: Ira_Traves@globalturnarounds.com

Contact Information

  • Contact:
    Kobus van der Zel
    Phone: (416) 359-9395